Increasing demand for packaged, ready-to-eat meals and instant foods is improving growth prospects for the global bulk food ingredients market. Future Market Insights (FMI) has projected the overall market value to reach US$ 771.6 Bn in 2021, registering year-over-year growth at 4.90%.
Amid soaring competition, top five players including DuPont, Cargill Foods Inc., Archer Daniels Midland Company, Associated British Foods plc, Koninklijke DSM N.V. are projected to account for approximately 20-25% of the total market share.
The bulk food ingredients market players earn a major part of the revenue from ready-to-eat food industry. As COVID-19 impacts short-term prospects, market players are readying themselves for sustained growth in the long run.
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“Developing partnerships with regional government facilitates production. Strict lockdown has also prevented intra-border logistics, thereby, causing a slump,” says an FMI Analyst.
Bulk Food Ingredients Market – Key Highlights
- Demand for ready-meals will rise while bakery products are expected to yield revenue prospects.
- Asia-Pacific Market will envision increased demand while North America is likely to undergo substantial revenue growth.
- By end-use, processed spices and herbs will remain lucrative categories
- Rising disposable income in China and India will also contribute to prolific expansion of bulk food ingredients.
Bulk Food Ingredients Market – Driving Factors
- Extending application of bulk food ingredients in bakery products like cake, bread, biscuits have surged the demand for ingredients.
- Rising consumption of alcoholic and non-alcoholic beverages is also pushing demand for bulk foods ingredients.
- Rapid urbanization and increasing demand for pre-packaged/hygienic food has helped the market witness a steady growth.
- There is a need for nutrient-rich food to address malnutrition, especially in developing countries, thereby, surging demand in these regions.
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Bulk Food Ingredients Market – Key Restraints
- Concerns regarding shelf-life of purchased ingredients might hinder market growth.
- Growing demand for natural and ready-made food is rising which might reduce consumption of ready-made meals, thus acting as a hindrance.
Expected Impact on Market by Coronavirus Outbreak
COVID-19 had reduced the demand for ready-to-eat as people are shifting towards natural and freshly-made food products. But there also exists a rise in online food supplies but UK online food segment was at 11.5% in the beginning of 2020 but started declining as time passed.
Europe is facing stiff competition as distribution channels and online food stores are facing loss thereby, contracting CAGR rate.
Competitive Landscape
Key players in the market include DuPont, Archer Daniels Midland Company, Cargill Foods Inc., Tate & Lyle PLC, Associated British Foods plc, Olam International, Ingredion Incorporated, EHL Ingredients, Wilmar International.
Companies are collaborating with regional manufacturers to expand distribution channels.
For instance, Cargill Foods Inc. has acquired Degussa’s food ingredients business to become a leading provider of speciality ingredients.
Tate & Lyle has announced a re-venture with Archer Daniels Midland Company to widen product portfolio and to extend their services for European customers.
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More on the report
This report presents an analysis on the basis of segments including product type (vegetable oil, sea salt, tea, coffee, dried fruits etc.), application (ready meals, frozen products, seafood, snacks, beverages etc.) and region (North America, Europe, South Asia etc.)
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Bulk Food Ingredients Market Demand Analysis 2015-2019 and Forecast, 2020-2030
5.1. Historical Market Volume (Tons) Analysis, 2015-2019
5.2. Current and Future Market Volume (Tons) Projections, 2020-2030
5.3. Y-o-Y Growth Trend Analysis
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